2425 Presidential Way #603 · West Palm Beach, FL 33401

$230,000

2 bd · 2.0 ba · 1,206 sqft · Condo public records · 283 Days on market

Built 1974 $1162/mo HOA · 33% of rent

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• DSCR +4.1/10.0
• Livability +4.1/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Luxury 2 Bedroom, 2 Bathroom Apartment in Prime West Palm Beach Location! Enjoy the best of South Florida living in this beautifully updated 2-bedroom, 2-bathroom apartment in the gated community of Lands of President. Located just minutes from I-95, hospitals, shopping centers, and the vibrant downtown West Palm Beach, this apartment offers unparalleled convenience. Palm Beach Island is also just a short drive away! This unit features brand new hardwood floors, fresh paint throughout, and new baseboards. The spacious living area is filled with natural light, creating a warm and inviting atmosphere. The kitchen boasts stainless steel appliances and ample cabinet space. Both bedrooms are gen

Key facts

• Gated community
• Private balcony
• Hardwood floors

Tags

• GATED COMMUNITY
• HARDWOOD FLOORS
• STAINLESS STEEL APPLIANCES
• PRIVATE BALCONY

Property features AI

Finance

• Other: Building area listed in public records; Directions: Exit 71 Palm Beach Lakes Blvd east, left on N Congress, right at first light on Presidential Way; go through guardhouse—building on the left
• Financial info: Has association fees (monthly)
• HOA & community: Association with monthly fee; Monthly HOA fee (amount listed in records); HOA covers insurance, grounds maintenance, pest control, security, water, and common areas; Community amenities: elevator(s), fitness center, laundry, parking, pool, storage, on-site manager, trash chute, community room, library; 117 units in the community; Pets allowed with restrictions and possible limits

Exterior

• Parking: Assigned parking
• Security: Gated community with guard; Security guard; Security system; Security patrol; Attended lobby; Smoke detectors
• Utilities: Public water; Public sewer; Three-phase electric; Cable available
• Home design: Condominium; Resale unit; Faces northeast; Located in a 20-story building
• Construction: CBS construction; Other roof type
• Exterior features: Patio; Not waterfront

Interior

• Kitchen: Disposal; Dishwasher; Microwave
• Bedrooms: Two bedrooms on the main level
• Flooring: Laminate flooring throughout
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Central electric heating; Electric cooling
• Interior features: No interior-specific built-ins or extras listed; Unfurnished
• Laundry & utility: Community laundry available

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $12 ($148/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $230k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 3.8% in West Palm Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#75 in FL, #1,255 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: employment C-, crime F.
• Palm Beach (suburban): math 46% / reading 53% proficiency, ranked #34 of 73 in FL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Roosevelt Elementary School (math 22% / reading 22%, grade F, #2,080 of 2,144 statewide, top 97%, 324 students, 86% FRL); Palm Beach Lakes High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 2,688 students, 70% FRL) — zoned schools average 78% FRL vs 52% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 50% district-wide (-28 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.2%/yr); 507 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 283 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $87k; list at $230k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $202,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 283 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.53% ✓
• Cap rate: 6.36%
• Cash-on-cash: 0.23%
• DSCR: 1.01
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.15% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.57×
• Total profit: $-27,904
• Equity at exit: $34,294

10-year hold

• IRR: 2.5%
• Equity multiple: 1.21×
• Total profit: $13,339
• Equity at exit: $19,886

Cash invested: $64,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33401

• Rents YoY: 5.2%
• Active inventory: 507
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $3,530 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$313 /mo · $3,751/yr
• Insurance: −$96
• HOA: −$1,162
• Vacancy / Maint / Mgmt: −$741
• Net cashflow: $12

Break-even live

Break-even rent $3,515

Max offer price $230,000

Occupancy floor 95%

Sensitivity live

Price	-10% $142	-5% $77	+0% $12	+5% $-53	+10% $-118
Rent	-10% $-267	-5% $-127	+0% $12	+5% $152	+10% $291
Rate	-1.0pp $128	-0.5pp $71	base $12	+0.5pp $-47	+1.0pp $-108

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2425 Presidential Way West Palm Beach, FL	2.0	2.0	1294	$4,500	$3.48	25d	1	0.03mi
2400 Presidential Way #1906 West Palm Beach, FL	1.0	2.0	1294	$3,000	$2.32	25d	1	0.11mi
1991 Presidential Way West Palm Beach, FL	1.0	1.0	827	$3,427	$4.14	8d	1	0.11mi
1991 Presidential Way West Palm Beach, FL	3.0	2.0	1485	$4,905	$3.30	17d	1	0.11mi
1714 Consulate Pl #101 West Palm Beach, FL	3.0	3.0	1377	$3,000	$2.18	25d	1	0.27mi
1979 Brandywine Rd Unit 1979-108 West Palm Beach, FL	3.0	2.0	1395	$3,205	$2.30	25d	1	0.57mi
290 Courtney Lakes Cir West Palm Beach, FL	1.0–3.0	1.0–2.0	1069	$2,705	$2.53	20d	19	1.17mi
1319 13th St West Palm Beach, FL	3.0	2.0	1215	$3,200	$2.63	25d	1	1.23mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	25d	1	1.24mi
1104 State St Unit C West Palm Beach, FL	3.0	1.0	875	$3,000	$3.43	25d	1	1.43mi
4400 Portofino Way West Palm Beach, FL	1.0–3.0	1.0–2.0	1222	$2,528	$2.07	18d	60	1.44mi
3590 Village Blvd West Palm Beach, FL	1.0–3.0	1.0–2.0	1074	$2,785	$2.59	0d	30	1.47mi
1211 Pine Sage Cir West Palm Beach, FL	3.0	2.0	1367	$3,200	$2.34	6d	1	1.49mi

HOA detail condo

• Monthly dues: $1,162 · $13,944/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 44 events

1. 2026-06-01
   days on market $230,000 Active 283 DOM
2. 2026-05-31
   days on market $230,000 Active 282 DOM
3. 2025-09-02
   historical $2,000
4. 2025-08-21
   listed $230,000 Active
5. 2025-08-01
   listed $2,000
6. 2025-08-01
   historical
7. 2025-07-10
   price $240,000
8. 2025-06-20
   historical $2,200
9. 2025-06-18
   price $2,200
10. 2025-04-26
    price $2,300
11. 2025-03-26
    price $2,500
12. 2025-01-15
    listed $2,650
13. 2024-11-08
    listed $260,000 Active
14. 2024-07-14
    historical $2,000
15. 2024-07-11
    listed $2,000
16. 2024-06-24
    historical $2,500
17. 2024-06-13
    listed $2,500
18. 2020-11-01
    historical
19. 2020-01-31
    listed $180,000 Active
20. 2019-01-01
    historical
21. 2018-09-03
    price $179,500
22. 2018-04-19
    status Active
23. 2018-04-13
    historical
24. 2017-11-07
    listed $185,000 Active
25. 2013-11-04
    soldstatus $87,000 Closed
26. 2013-10-09
    status Pending
27. 2013-10-09
    status Active
28. 2013-10-02
    status Pending
29. 2013-09-27
    listed $89,900 Active
30. 2013-09-21
    historical
31. 2010-10-25
    historical
32. 2010-06-18
    listed $68,500
33. 2009-01-27
    historical
34. 2008-12-26
    listed $79,000
35. 2008-10-05
    historical
36. 2008-05-07
    listed $115,000
37. 2006-10-16
    listed $229,900
38. 2005-12-22
    historical
39. 2005-10-02
    listed $254,900
40. 2001-08-07
    soldstatus $80,400
41. 2001-07-30
    soldstatus $80,400
42. 2001-07-26
    historical
43. 2001-02-05
    listed $89,000
44. 1989-10-06
    soldstatus $58,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $3,751 · $313/mo
• Projected year-2 tax: $3,751 · $313/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,363
• − Mortgage interest: −$12,884
• − Property taxes: −$3,751
• − Insurance: −$1,150
• − Repairs & maintenance: −$3,389
• − Management: −$3,389
• − HOA: −$13,944
• − Depreciation: −$6,691
• Taxable loss: −$2,835
• Est. tax savings @ 24.0%: +$680
• After-tax cash flow: $828/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Palm Beach
• NCES district ID: 1201500
• Math proficiency: 46% ▼ -16.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $53,943
• Composite: 42.72/100
• National rank: #3160
• State rank: #34 of 73 in FL

Livability — West Palm Beach

• Score: 82/100
• State rank: #75
• US rank: #1255

Category grades

Amenities A- Commute A+ Cost of living B- Crime F Employment C- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Palm Beach, FL
• County: Palm Beach County · 1,438,312 people
• City population: 222,012
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,698
• Household income: $67,967
• Rent vs Own: 62.5% rent · 37.5% own
• Severe rent burden: 2953.0

Population outlook (Palm Beach County) Hauer SSP2

• Today (2025): 1,637,487 people
• By 2030: 1,743,255 · +6.5%
• By 2040: 1,948,712 · +19.0%
• By 2050: 2,132,979 · +30.3%
• By 2075: 2,530,027 · +54.5%
• By 2100: 2,706,979 · +65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 43% Black 32% Hispanic / Latino 17% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 3%
• Common ancestry: Hispanic 6% Slovak 2% Romanian 2%
• Foreign-born: 26% · Canada, Jamaica, China
• Languages at home: 73% English-only · Spanish 13% French/Haitian/Cajun 7% Other Asian/Pacific 2%

Political lean MEDSL · Palm Beach

• 2024 margin: Toss-up / Even · D 50.0% · R 49.2%
• 2008→2024 swing: -22.1pp toward R · 2008: 22.9pp · 2024: 0.8pp
• All cycles: 2024: D+0.8 2020: D+12.8 2016: D+15.3 2012: D+17.0 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -324.96%
• Current HPI: 367.0978
• Rent YoY: ▲ 5.15%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-96.6% since first listed

42 events — show timeline

• 2025-09-02 Rental Removed $2,000 RMLSFL
• 2025-08-21 Listed $230,000 Beaches MLS
• 2025-08-01 Listed for Rent $2,000 RMLSFL
• 2025-08-01 Listing Removed — Beaches MLS
• 2025-07-10 Price Changed $240,000 Beaches MLS
• 2025-06-20 Rental Removed $2,200 RMLSFL
• 2025-06-18 Price Changed $2,200 RMLSFL
• 2025-04-26 Price Changed $2,300 RMLSFL
• 2025-03-26 Price Changed $2,500 RMLSFL
• 2025-01-15 Listed for Rent $2,650 RMLSFL
• 2024-11-08 Listed $260,000 Beaches MLS
• 2024-07-14 Rental Removed $2,000 GFLMLS
• 2024-07-11 Listed for Rent $2,000 GFLMLS
• 2024-06-24 Rental Removed $2,500 GFLMLS
• 2024-06-13 Listed for Rent $2,500 GFLMLS
• 2020-11-01 Listing Removed — Beaches MLS
• 2020-01-31 Listed $180,000 Beaches MLS
• 2019-01-01 Listing Removed — Beaches MLS
• 2018-09-03 Price Changed $179,500 Beaches MLS
• 2018-04-19 Relisted — Beaches MLS
• 2018-04-13 Listing Removed — Beaches MLS
• 2017-11-07 Listed $185,000 Beaches MLS
• 2013-11-04 Sold (MLS) $87,000 Beaches MLS
• 2013-10-09 Pending — Beaches MLS
• 2013-10-09 Relisted — Beaches MLS
• 2013-10-02 Pending — Beaches MLS
• 2013-09-27 Listed $89,900 Beaches MLS
• 2013-09-21 Listing Removed — Beaches MLS
• 2010-10-25 Listing Removed — Beaches MLS
• 2010-06-18 Listed $68,500 Beaches MLS
• 2009-01-27 Listing Removed — Beaches MLS
• 2008-12-26 Listed $79,000 Beaches MLS
• 2008-10-05 Listing Removed — Beaches MLS
• 2008-05-07 Listed $115,000 Beaches MLS
• 2006-10-16 Listed $229,900 Beaches MLS
• 2005-12-22 Listing Removed — Beaches MLS
• 2005-10-02 Listed $254,900 Beaches MLS
• 2001-08-07 Sold (Public Records) $80,400 Public Records
• 2001-07-30 Sold (MLS) $80,400 Beaches MLS
• 2001-07-26 Listing Removed — Beaches MLS
• 2001-02-05 Listed $89,000 Beaches MLS
• 1989-10-06 Sold (Public Records) $58,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $3,751 · -0.2% YoY. Source: county tax records.